RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Fabergé Shows ‘Encouraging’ Growth

Luxury jeweler sees 63% jump in units sold during third fiscal quarter.
May 16, 2017 9:48 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Fabergé, the famed jewelry brand owned by Gemfields, recorded a 63% jump in unit sales during the third fiscal quarter, as the miner expanded its marketing efforts for the luxury business division.

The number of actual sales transactions rose 18% during the three months that ended March 31, the company said last week. In addition, Gemfields reported a 13% drop in operating costs.

The figures “provide encouraging evidence” that lower costs and a better mix of products are improving the company’s performance, Gemfields said.

During the quarter, Fabergé launched the third men’s watch in its Visionnaire collection, the Visionnaire Chronograph, at the Baselworld show in Switzerland, and collaborated with fashion blogger and consultant Peony Lim to promote its “Three Colours of Love” collection. It also engaged in high-end print-media campaigns.

Gemfields, which bought Faberge in 2012, primarily mines colored gemstones at its mines in Africa. Emerald and beryl production at the Kagem deposit in Zambia dropped 37% to 4.5 million carats during the quarter, while output of ruby and corundum from the Montepuez asset in Mozambique slid 40% to 1.2 million carats.
Tags: africa, Baselworld, beryl, colored gemstones, corundum, emerald, Fabergé, Gemfields, Jewelry, Kagem, mining, Montepuez, Mozambique, Peony Lim, Rapaport News, retail, ruby, the Visionnaire Chronograph, Three Colours of Love, zambia
Similar Articles
NRF SeptemberUS Consumer Spending Dips
Oct 17, 2019
US retail sales stalled between Augustand September, indicating that consumer...
Former Zales Vice Chairman Marvin Zale Dies
Chow Tai Fook Sales Slump
Costco Sells $220,000 Diamond Ring
LightboxLightbox to Debut at Bloomingdale’s, Reeds
Oct 15, 2019
De Beers will partner with two major retailers topromote Lightbox,...
LVMH Jewelry and Watch Revenue Jumps
NRF Predicts Rise in Holiday Sales
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us